Managers / Q2 2023 · view latest →
Decheng Capital Management III (Cayman), LLC
CIK 0001747821 · PO BOX 309, UGLAND HOUSE, GRAND CAYMAN, E9, KY1-1104 · 345-949-8066
Summary
Decheng Capital Management III (Cayman), LLC reported $319M in U.S.-listed holdings across 25 positions for Q2 2023.
The portfolio is heavily concentrated: Alpine Immune Sciences alone accounts for 21.6% of reported value.
Compared with Q1 2023, the fund opened 5 new positions and exited 4.
Portfolio Metrics
Methodology: turnover is min(value bought, value sold) ÷ average reported value across the two quarters — value-based, so market moves inflate it slightly versus a share-based measure. Concentration and largest position are shares of the filing’s total reported value, options excluded. New/exited counts compare against the prior filed quarter. All figures derive solely from the fund’s 13F filings.
Reported Value by Quarter
Portfolio Composition
- Common Stock · 42.1% · $134M
- Other · 36.3% · $116M
- PUBLIC · 21.6% · $69M
Quarter-over-Quarter Changes full breakdown →
vs Q1 2023 (amended baseline)
| Issuer | Move | Share Δ | Shares now | Value Δ | Value now |
|---|---|---|---|---|---|
| ACELYRIN INC(NSM) | NEW | +1.55M | 1.55M | +$32M | $32M |
| ROIVANT SCIENCES LTD | NEW | +1.46M | 1.46M | +$15M | $15M |
| PHATPHATHOM PHARMACEUTICALS INC | NEW | +850.0K | 850.0K | +$12M | $12M |
| BeyondSpring Inc. | NEW | +4.96M | 4.96M | +$6M | $6M |
| AtriCure Inc. | NEW | +46.3K | 46.3K | +$2M | $2M |
| Prometheus Biosciences, Inc. | SOLD OUT | −150.0K | 0 | −$16M | $0 |
| BeyondSpring Inc. | SOLD OUT | −4.96M | 0 | −$6M | $0 |
| ATRCAtriCure Inc. | SOLD OUT | −46.3K | 0 | −$2M | $0 |
Value changes conflate price moves with buying and selling — share changes are the real signal. Share counts are not split-adjusted.
Holdings — Q2 2023
Filing History
| Quarter | Reported Value | Positions | Filed | Type | Links |
|---|---|---|---|---|---|
| Q4 2023 | $300M | 26 | Dec 12, 2023 | RESTATEMENT | changes · EDGAR ↗ |
| Q3 2023 | $313M | 27 | Nov 29, 2023 | RESTATEMENT | changes · EDGAR ↗ |
| Q2 2023 | $319M | 25 | Jul 28, 2023 | 13F-HR | changes · EDGAR ↗ |
| Q1 2023 | $248M | 24 | May 10, 2023 | 13F-HR | changes · EDGAR ↗ |
| Q4 2022 | $267M | 26 | Feb 9, 2023 | 13F-HR | changes · EDGAR ↗ |
| Q3 2022 | $276M | 26 | Nov 8, 2022 | 13F-HR | changes · EDGAR ↗ |
| Q2 2022 | $264M | 25 | Aug 1, 2022 | 13F-HR | changes · EDGAR ↗ |
| Q1 2022 | $326M | 24 | May 10, 2022 | 13F-HR | changes · EDGAR ↗ |
13F filings are due up to 45 days after quarter end, so holdings shown here lag the fund’s current book. Source: original SEC filing on EDGAR ↗.